Telecom
Remita’s Bold Leap: Nigeria’s Fintech Giant Expands Across Africa
Remita, the pioneering Nigerian payment technology platform developed by SystemSpecs, is charting a bold new course with its planned expansion into markets across Africa.
What began as a payroll feature in an HR application has now become a robust ecosystem processing over ₦60 trillion annually—one that stands on the verge of reshaping the continent’s fintech landscape, Mr. Deremi Atanda, Managing Director/CEO of Remita Payment Services Limited, says in an exclusive interview that will grace the cover of eGovernance Nigeria Magazine.
The forthcoming edition of eGovernance Nigeria Magazine, a publication of the Technology Times media brand owned and operated by Digital Transformation Media Limited (DTML), will spotlight this extraordinary journey, and present Remita’s evolution as an inspiring tale that informs, educates, and entertains readers about indigenous innovation making global strides.
“We’ve become an ecosystem of rails, products, and services—robust,” Atanda, Managing Director/CEO of Remita explains during the exclusive interview with eGovernance Nigeria Magazine.
“Layering all of that with the many different customers we’ve had, typically every year we process in excess of maybe ₦60 trillion in transactions in Nigerian Naira. And this can only grow, especially as we begin to think of a vibrant Pan-African expansion. We’re at the fringe of that.”
In a compelling narrative that mixes grit, vision, and innovation, Atanda recounts Remita’s early days. “What many people know today as Remita actually started out as a feature within our HR/payroll application.
“You process salaries, and you just want to pay—so just remit salaries. And by the way, that’s where the name ‘Remita’ came from: Remittance. We just took out one ‘T’ and left it at ‘A.’”
Even the company’s logo carries symbolism of that transformation. “I don’t know if you’ve seen our logo—it has three dots, in ascending size. There are many stories in that logo. It started as a feature, and then we brought it out as a product,” Atanda explains.
Yet the road was not without its bumps. “The first time we brought it out as a product was to bid for the National Pension Commission. This was in 2004, with the PenCom Act.
“We packaged this into a product in less than two weeks to take care of end-to-end pensions as it was conceived. Trust me, that vision is still viable today. But we lost that bid.”
Undeterred, SystemSpecs pivoted. “We went back and said, ‘What do we do with this asset?’ If it’s not going to work for pensions, let it become a product. And that’s how we renamed pensions.com.ng as Remita, and it became a product.”
As demand grew, Remita expanded beyond payroll. “Some people want to do their own payroll and just make payments, so let them have a site to go to. Later, it evolved into not just payroll payments. People wanted to do other types of payments. If you want to do non-salary payments, you go to Remita,” he says.
Today, Remita has fully matured into a standalone company. “So those three things—feature, product, company. That’s been the evolution.” With a Tier 1 licence from the Central Bank of Nigeria, Remita is now a fintech powerhouse. “We do switching, we do payment service provisioning, we do super agency, we do terminals—everything you can think about. We provide some basic services within the payment space, including payment service advisory.”
A lesser-known chapter of Remita’s growth includes building Nigeria’s first account-to-accountswitch. “Before TSA, we had built a rail—Nigeria’s first account-to-account switch, worked with all the banks. Not many people know that story. Account-to-account. The front of it, the application, and the rail—first of its kind.”
On the pivotal Treasury Single Account (TSA) deal with the Federal Government of Nigeria, Atanda reveals, “TSA was a happenstance. The government was looking to solve a problem, and we were looking to get regulated. It’s that term people use—when they say ‘luck,’ it’s just preparation meeting opportunity.”
Reflecting on the journey, he adds, “These have been some of those moments where you feel validated, where the visionary leadership that set the business up feels the vision is being realized.”
Today, Remita employs over 300 Nigerians and looks beyond its home shores. “The vision is huge, and we’re committed to that. So, we see exponential growth, and we’re positioning for that.”
Mr. Shina Badaru, Chairman of DTML, says Remita’s story is an inspirational example of local innovation with global relevance. “Remita’s success highlights the critical role of indigenous technology solutions in redefining Africa’s digital economy,” he says.
“As the cover story of the next issue of eGovernance Nigeria Magazine, we aim to showcase how homegrown innovation is not only solving problems locally but is also poised to transform markets across the African continent.”
According to Badaru, “Remita’s inspiring journey connects seamlessly with our article of faith to continue to showcase Nigeria’s growing contributions to the global technology industry.”
eGovernance Nigeria Magazine is a flagship DTML platform with operations across print, digital, TV, events, and e-commerce channels.
“This feature not only celebrates Remita’s evolution,” Badaru adds, “but also signals a pivotal shift in the narrative of Nigerian and African technology—from survival to scale, from local impact to continental transformation.”
As Remita sets its sights on Africa, it is poised to bring financial inclusion, digital infrastructure, and innovative fintech solutions to new and underserved markets. With a strong foundation and visionary leadership, the company is ready to deliver the next phase of its remarkable journey.
National Agency for Science and Engineering Infrastructure (NASENI) has signed a Memorandum of Understanding (MoU) with the Rural Electrification Agency (REA) to promote locally manufactured renewable energy technologies under the Federal Government’s ‘Nigeria First Policy’.
L-R: EVC/CEO, National Agency for Science and Engineering Infrastructure, Mr. Khalil Suleiman Halilu; Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale Abraham Adedokun; and Dr. Abba Abubakar Aliyu, Managing Director and Chief Executive Officer of the Rural Electrification Agency (REA), at the signing of the MoU on implementation of Nigeria First Policy for offtake of NSSENI’s renewable energy products for rural electrification projects held on Friday, June 19, 2026 at BPP’s office in Abuja.
The agreement signing was facilitated by the Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale Abraham Adedokun at the BPP headquarters in Abuja on Friday, June 19, 2026.
Speaking at the event, the Executive Vice Chairman/CEO of NASENI, Mr. Khalil Suleiman Halilu, said the Agency is focused on linking research, production, and commercialization to ensure that innovations are translated into market-ready products.
He said “NASENI would scale up renewable energy production, including solar panels and streetlights, through initiatives such as DefFrontier, to strengthen local manufacturing and reduce import dependence, adding that the Agency will meet the renewable energy requirements of REA.”
Instead of continuous importation of technologies, machines and equipment for producing renewable energy solutions, NASENI by this MoU will be committed to local manufacturing and domestication of the technologies, equipment and other ways and means of proliferation of renewable resource in the country and to increase the nation’s off-grid energy solutions.
The Managing Director/CEO of REA, Dr. Abba Abubakar Aliyu, described the relationship with NASENI as a strategic partnership aimed at building Nigeria’s renewable energy ecosystem through local production and deployment.
He stated that “while NASENI provides the manufacturing and technological capacity for renewable equipment, REA will focus on deploying solutions to expand electricity across rural areas.”
Meanwhile, the Director-General of BPP, Dr. Adebowale Abraham Adedokun, said the Nigeria First Policy, exemplified by this agreement, is aimed at strengthening local content, ensuring value for money, and promoting accountability in public procurement.
He emphasized that implementation of the agreement will be performance-based, with strict monitoring to ensure compliance and measurable outcome. He added that the MoU is expected to deepen collaboration between NASENI and REA in expanding renewable energy and reducing dependence on imported technologies.
The MoU will be implemented through NASENI’s subsidiary company, NASENI Devfrontier Green Energy FZE and REA limited liability company, RAMco.The two Federal Government agencies seek to establish a strategic collaboration under which REA shall offtake PV modules, inverters, energy storage batteries of NASENI-Devfrontier Green Energy FZE directly or through its approved distribution companies/assembly and manufacturing factory.
As part of the agreement, REA shall provide institutional visibility to enable NASENI participate in electrification projects; facilitate opportunities for engagements between NASENI and eligible developers/contractors under REA programs; ensure that such facilitation is consistent with applicable procurement, local content, and transparency requirements; and also collaborate with NASENI in promoting standardized, high-quality PV technologies across its programme portfolio.
Telecom
TikTok, ICC Gather Nigeria’s Entrepreneurs to Drive Small Business Growth and Digital Transformation
TikTok, in collaboration with the International Chamber of Commerce (ICC), on Thursday convened hundreds of entrepreneurs, small business owners, digital creators and industry stakeholders in Lagos for a flagship Digital Commerce Labs (DCL) event aimed at accelerating digital skills development and economic inclusion across Sub-Saharan Africa.
TikTok
The event, supported by the National Information Technology Development Agency (NITDA) and the Lagos State Employment Trust Fund (LSETF), brought together participants from across Nigeria’s business and technology ecosystem to explore how digital platforms can be leveraged to scale enterprises, improve market access and drive job creation.
Speaking at the event, organisers said the initiative marks the beginning of a broader programme designed to train thousands of small and medium-sized enterprises (SMEs) across the region in digital commerce skills through both online and physical learning platforms.
According to TikTok, the partnership reflects its commitment to supporting small businesses and strengthening Africa’s growing digital economy.
“Digital commerce is reshaping how businesses grow across Sub-Saharan Africa, and Nigerian entrepreneurs are at the heart of that shift,” said Tokunbo Ibrahim, Acting Head of Government Relations and Public Policy, Sub-Saharan Africa, TikTok.
He said the initiative would ensure that small businesses benefit from emerging opportunities in social commerce and digital trade.
The Director-General of NITDA, Kashifu Inuwa Abdullahi, said digital platforms have evolved beyond entertainment and are now key drivers of economic growth and innovation.
He noted that Nigeria’s youth population and growing digital adoption position the country to benefit significantly from the expansion of online commerce and creator-led businesses.
“At NITDA, our vision is to make Nigeria a digitally enabled nation, fostering inclusive economic development through technological innovation,” he said.
The ICC Deputy Secretary General, Julian Kassum, described the programme as a strategic effort to equip small businesses with tools needed to compete in the global digital economy.
He said the Digital Commerce Labs initiative would help expand opportunities for trade, entrepreneurship and employment.
The Lagos State Employment Trust Fund (LSETF) also announced support for the programme through capacity-building training in financial literacy, business structuring, record keeping, taxation and legal advisory services. It said participating businesses would gain access to funding opportunities after completing the programme.
Data presented at the event showed that Nigeria’s social commerce sector is projected to reach $2.04 billion in 2025 and nearly $4 billion by 2030, while Africa’s wider market is expected to grow to $9.43 billion within the same period.
Speakers at the event noted that social media platforms have become central to business growth in Nigeria, with many SMEs relying exclusively on digital channels to reach customers and drive sales.
The programme also featured keynote presentations, business training sessions, and a creator economy spotlight where Nigerian entrepreneurs shared experiences on building brands and scaling businesses through digital platforms such as TikTok.
Organisers said the initiative is expected to strengthen digital literacy, expand market access for SMEs, and deepen Nigeria’s participation in the global digital economy.
National Information Technology Development Agency (NITDA) and TikTok have launched a strategic partnership aimed at equipping Nigerian Small and Medium Enterprises (SMEs) with digital commerce skills, tools, and opportunities to compete effectively in the digital economy.
NITDA
The partnership was unveiled at the launch of the TikTok Digital Commerce Labs Programme for SMEs, held in Lagos, where stakeholders from government, the private sector, entrepreneurship support organisations, and the digital ecosystem gathered to explore innovative pathways for empowering Nigerian businesses through technology.
Speaking at the event, the Director-General and Chief Executive Officer of NITDA, Kashifu Inuwa Abdullahi, CCIE, represent at the event by Dr Aristotle Onumo, Director Stakeholder Management and Partnerships, described digital commerce as one of the most powerful drivers of economic inclusion and business growth in the modern economy, noting that access to digital skills has become increasingly critical for the survival and competitiveness of businesses.
According to the NITDA boss, the future of commerce is increasingly digital, and entrepreneurs who embrace technology will be better positioned to access larger markets, increase productivity, and create sustainable wealth.
He observed that while Nigeria is blessed with millions of hardworking and innovative entrepreneurs, many small businesses still lack the digital capabilities required to fully participate in the opportunities offered by the digital economy.
“Today, a young entrepreneur with a smartphone can reach customers beyond geographical boundaries, build a brand, market products globally, and create economic opportunities that were previously unimaginable. Our responsibility is to ensure that every entrepreneur, regardless of location, has access to the digital skills and tools needed to succeed in this new economy,” he said.
A major highlight of the event was the announcement of a collaborative programme between NITDA and TikTok designed to extend digital commerce training to SMEs across the country.
As part of the initiative, TikTok has committed an initial investment of approximately US$20,000 to support a pilot Train-the-Trainer Programme, which will leverage NITDA’s Digital Literacy for All (DL4ALL) networks to deliver digital commerce training to entrepreneurs, particularly those in remote and underserved communities.
Inuwa commended TikTok for its commitment to supporting entrepreneurship and digital inclusion in Nigeria, describing the initiative as a practical example of how technology platforms can contribute meaningfully to economic empowerment and national development.
He noted that the collaboration aligns with NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0), particularly the Agency’s commitment to achieving widespread digital literacy, promoting innovation, supporting entrepreneurship, and fostering inclusive economic growth.
The DG stressed that technology should not merely be viewed as a tool for communication and entertainment but as a platform for creating opportunities, generating income, and transforming lives.
“Technology is most powerful when it empowers the least connected, creates opportunities for the underserved, and transforms potential into prosperity,” he stated.
Industry stakeholders at the event described the initiative as timely, especially at a period when businesses are increasingly leveraging digital platforms to connect with customers, expand operations, and access new markets.
The TikTok Digital Commerce Labs Programme is expected to strengthen digital capabilities among SMEs, improve access to digital opportunities, and contribute to the growth of Nigeria’s digital economy by enabling entrepreneurs to harness the power of technology for business development.
The launch reinforces NITDA’s vision to building a digitally empowered Nation fostering inclusive economic development through technological innovation where individuals, startups, and businesses can leverage technology to create value, generate employment, and contribute to national prosperity.
As Nigeria continues its journey towards becoming a leading digital economy in Africa, collaborations such as the NITDA-TikTok partnership are expected to play a significant role in empowering citizens, fostering innovation, and expanding economic opportunities for millions of Nigerians.
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